Northern Rock to scrap 100% savings guarantee - HotUKDeals
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Northern Rock to scrap 100% savings guarantee

pedroman Avatar
6y, 9m agoPosted 6 years, 9 months ago
Northern Rocks guarantee that protects 100% of customers savings is likely to be removed within the next few weeks in preparation for an eventual sale of the nationalised lender.......................

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=3273405
pedroman Avatar
6y, 9m agoPosted 6 years, 9 months ago
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Comments/page:
#1
best to move the savings asap to a safer bank or place.
:o shocking though, so when they remove that, people who still have thousands of savings with them they may not be guaranteed to get the whole lot back
#2
Only applies to Savings over £50 000, under that amount all savings are guaranteed safe by legislation.
#3
beth3735
best to move the savings asap to a safer bank or place.
:o shocking though, so when they remove that, people who still have thousands of savings with them they may not be guaranteed to get the whole lot back


Yup, so be the first in the que to get it out, at the moment Santander look the safest, but you can never tell as the Euro looks in deep shhhh. :?
banned#4
Inactive
Only applies to Savings over £50 000, under that amount all savings are guaranteed safe by legislation.


So would I be Ok if I opened seperate accounts and put the money in the kids names?
#5
As far as I can see this just removes extra protection that the other banks don't have anyway.
#6
Spod
As far as I can see this just removes extra protection that the other banks don't have anyway.


You are right. So Peeps, need to now remove the extra over the 50k and treat Northern Rock as any other institution.

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